gnoring income tax, the accounting change should preferably be reported by the company in its year 2022 as? a. ₱ 800,000 as debit adjustment to the beginning balance of retained earnings b. ₱ 800,000 debit to the income statement c. ₱ 800,000 credit to the income statement d. ₱ 800,000 as credit adjustment to the beginning balance of retained earnings
gnoring income tax, the accounting change should preferably be reported by the company in its year 2022 as? a. ₱ 800,000 as debit adjustment to the beginning balance of retained earnings b. ₱ 800,000 debit to the income statement c. ₱ 800,000 credit to the income statement d. ₱ 800,000 as credit adjustment to the beginning balance of retained earnings
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter22: Accounting For Changes And Errors.
Section: Chapter Questions
Problem 3MC
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Ignoring income tax, the accounting change should preferably be reported by the company in its year 2022 as?
a. ₱ 800,000 as debit adjustment to the beginning balance of retained earnings
b. ₱ 800,000 debit to the income statement
c. ₱ 800,000 credit to the income statement
d. ₱ 800,000 as credit adjustment to the beginning balance of retained earnings
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